Cinemark (NYSE:CNK) Upgraded at Zacks Research

Zacks Research upgraded shares of Cinemark (NYSE:CNK) from a strong sell rating to a hold rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on CNK. Macquarie Infrastructure lowered their target price on shares of Cinemark from $36.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. The Goldman Sachs Group reissued a “sell” rating and issued a $22.00 price objective on shares of Cinemark in a research report on Thursday, February 19th. B. Riley Financial restated a “neutral” rating on shares of Cinemark in a research note on Thursday, February 19th. Wells Fargo & Company decreased their price target on shares of Cinemark from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Finally, Barrington Research reiterated an “outperform” rating and issued a $32.00 price target on shares of Cinemark in a report on Thursday, February 19th. Ten analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.08.

Cinemark Stock Down 0.1%

Shares of NYSE:CNK opened at $28.64 on Monday. The firm has a market capitalization of $3.31 billion, a PE ratio of 32.92 and a beta of 1.08. The business has a 50 day simple moving average of $24.68 and a two-hundred day simple moving average of $26.00. Cinemark has a 1 year low of $21.60 and a 1 year high of $34.01. The company has a debt-to-equity ratio of 4.74, a current ratio of 0.71 and a quick ratio of 0.67.

Cinemark (NYSE:CNK) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). The business had revenue of $776.30 million during the quarter, compared to analysts’ expectations of $778.41 million. Cinemark had a return on equity of 34.11% and a net margin of 4.44%.The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, equities analysts predict that Cinemark will post 1.93 EPS for the current year.

Cinemark Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 3rd will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 3rd. Cinemark’s dividend payout ratio is presently 41.38%.

Insider Activity

In other news, EVP Melissa Thomas sold 22,082 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $24.81, for a total transaction of $547,854.42. Following the transaction, the executive vice president directly owned 167,360 shares in the company, valued at approximately $4,152,201.60. This trade represents a 11.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Cinemark

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Orbis Allan Gray Ltd raised its position in shares of Cinemark by 31.0% in the 4th quarter. Orbis Allan Gray Ltd now owns 15,057,911 shares of the company’s stock worth $349,946,000 after acquiring an additional 3,563,810 shares in the last quarter. Wellington Management Group LLP grew its stake in Cinemark by 8.4% in the fourth quarter. Wellington Management Group LLP now owns 9,536,900 shares of the company’s stock valued at $221,638,000 after purchasing an additional 742,307 shares during the last quarter. Lavaca Capital LLC bought a new position in Cinemark in the fourth quarter worth about $133,045,000. Marshall Wace LLP lifted its position in shares of Cinemark by 758.9% during the second quarter. Marshall Wace LLP now owns 4,497,305 shares of the company’s stock valued at $135,729,000 after buying an additional 3,973,689 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Cinemark by 1.5% during the fourth quarter. State Street Corp now owns 3,950,606 shares of the company’s stock valued at $91,812,000 after buying an additional 60,176 shares during the last quarter.

Cinemark Company Profile

Cinemark Holdings, Inc (NYSE: CNK) is a leading theatrical exhibitor that acquires, develops and operates motion picture theatres under the Cinemark® brand in the United States and Latin America. The company’s core business involves the presentation of first-run feature films coupled with an array of in‐theatre services, including concessions, premium auditoriums and loyalty programs. Cinemark’s exhibition portfolio encompasses both corporate‐owned and franchised complexes, offering moviegoers a range of experiences from standard screens to large‐format halls.

The company’s product offerings extend beyond ticket sales to include an assortment of concession items, such as popcorn, fountain beverages, candy and specialty snacks, as well as bar and lounge concepts in select locations.